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CNBC
Oct 10, 2012 4:00pm EDT
four years under the obama administration, and i've watched my company be cut in half. today we're very profitable, and i don't want to go through another four years under the obama administration where i have to downsize again. >> you cut the company in half as a result of tax policy? is that what happened? >> no, it had nothing to do with tax policy. it had to do with the tightening of the banks. tightening of money. when they gave t.a.r.p. money to the banks, they should have told them to loan it out. instead, the banks kept the money, bought back their own bonds and stock. they made their own balance sheets very good. they didn't spread the money around to businesses that were starving for financing. as a result, we had to cut our company in half. we had to lay off 7,000 employees and be very lean and mean to survive. well, it was a very unpleasant experience, and i don't feel like going through it again, but this was before obamacare, before increasing my taxes. i can see the future. >> it sounds like you're dealing with the results of a country that was overleveraged. there's
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